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Laundry with Dry Clean Drop & Convenience Store

Essex County, New Jersey

Asking Price: Gross: Cash Flow:
$495,000 $452,400 $185,315

Business Summary:
Est. laundry w/ dry clean drop around $306,800 per year loc in a low income intercity area. Located by the hospital across from a brand new built elementary school. Attendant counter has been converted into Apr. 400 sq. ft. convenience/dollar. Rev around $145,600 per year. 17 car parking apr. 2k sq. ft. that is rented out for $8,400 per year. Owner willing to replace 5-washers at his cost prior to closing. Long lease. Needs owner/operator to be hands on. Shows well. T-58 w-Continental + (30 -$2.00-20 lbs., 13- @ $3,75 -30 lbs, 11 @ $5.00-40 lbs., 2 @ $8.00 -80 lbs.) T-34 Adc Dryers double pocket. Requires an all cash or will approach lending institutions. Other exp: w/s. Other inc: Parking rental 8,400, massage chair 840, crane vending +2 other games 480, vending gum 360, ATM 1,440. Breakdown of sales: calling cards $20,020 per year, conv/deli $125,580 per year, laundry coin plus $286,300, and drop $20,800. For further information please contact Jim Hamdan at 908-851-9040 Ext. 210.

 
   
   
Year Business was Established: 1997
   
Number of Employees: 3  
   
Facilities / Terms of Lease: 3,600 sq. ft. Laundromat + 400 sq. ft. convenience store + 2k sq. ft. parking for 17 cars  
   
Potential Growth/Expansion: Seller willing to replace 5 washers at his cost prior to closing of business  
   
Competition: Several  
   
Owner willing to finance: All cash, or getting finance through specialist in giving out loans on laundry  
   
Owner willing to train: Two weeks  
   
Reason for selling: Has to repay loan from original source  

 

 

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